Khursheed's husband runs a Punjabi food restaurant in the nearby market. He is expert at making Punjabi food and has a good number of clients who come to his restaurant daily for food. Khursheed herself is a housewife. She stays at her home and carries out her household responsibilities. In her spare time, she also helps her husband by preparing food for his restaurant.
Khursheed has applied for a loan from Kiva's partner, Asasah, to help her husband improve his business. With this loan, he will buy the required ingredients to be able to prepare better quality food and also buy some chairs and tables to provide better seating for his clients. He has been in this business for the past many years and Khursheed is optimistic about the growth of her husband’s business after this loan investment. She is a regular Asasah client and this is her third loan application. In previous years, she has maintained good credit behavior and never missed a meeting.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid